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Types of Loans

Why choose a Fixed Rate Mortgage?
The biggest reason people choose a fixed rate mortgage can be summed up in one word: predictability. You can count on your rate and monthly payment to stay the same for the entire life of your loan. That makes it easier to manage your budget and it's a smart choice for those who plan on staying in their homes for five years or longer.

Why choose an Adjustable Rate Mortgage (ARM)?
An ARM offers a lower interest rate and a lower payment for a fixed amount of time, but the payment can fluctuate up or down following this fixed period. Don't be tempted by the lower initial payment unless you thoroughly understand how the index and margin will affect your future payment. This program is terrific for those who need a low payment because of recent divorce, lack of income, or if you plan on holding your home loan for a shorter period of time.

Other Mortgage Choices:

Conventional Mortgage
These FHLMC/FNMA products range from $417,000, to as high as $729,750, depending on the county in which you live. Expect to pay .25% more for a loan amount above $417,000, but it's a great "jumbo" rate that you should take advantage of while Federal guidelines have been expanded.

Jumbo and Super Loan
For loan amounts that exceed the conventional conforming limits, a jumbo loan may be the solution. We have the most competitive jumbo sources at our disposal, both as a direct lender, as well as through our unique broker channels. 

FHA Loan
This popular government-backed program is designed to help home buyers purchase owner occupied residences with only a 3.5% down payment. If you need a co-borrower in order to qualify for your loan, or if you need a gift for 100% of your down payment, plus credits towards your closing costs, then this may be a great loan consideration for you. Borrowers may also refinance their homes over 80% loan to value and take cash out on primary residences with minimal equity. Contact us to discover if this loan is right for you. 

Veterans Administration (VA) Loans
VA loan programs are designed to help veterans and active duty military personnel purchase and retain homes in recognition of their service to the Nation. A variety of loans are offered through VA programs up to a maximum loan amount of $417,000. Our loan officers are experienced in helping veterans determine their eligibility for VA loan programs and guiding the loan approval process.


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